USDJPY hits session highs as stocks, yields head higher

Nasdaq up 0.71%

The US stocks are trading at session highs (after opening lower), with the Nasdaq leading the way higher at +0.71%. The S&P is up 0.47%. The Dow is up 0.51%.

In the US debt sector, the yields are higher as well with 2 year up 2.5 bps and 10 years up 3.8 bps.

Each of those moves seem to be helping to push up the USDJPY.

Looking at the hourly chart, the pair rose in the Asian session, corrected toward a lower trend line in the London and into the NY early hours, and has been rising since then. The high reached 111.63. The high from last week reached 111.75. The August 29 high reached 111.82. The highest price in August was on August 1 at 112.146. All are targets on more upside momentum.

The lower trend line is a risk level for longs. That comes in at 111.32.

Buyers have remained more in control in trading today. There are ups and downs, and the stocks gains can be finicky as well, but stay above the trend line is bullish.